Citigroup Issues Pessimistic Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its price objective decreased by Citigroup from $49.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 65.65% from the stock’s previous close.

A number of other analysts have also recently issued reports on SG. UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. KeyCorp began coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Morgan Stanley cut their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Oppenheimer decreased their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.60.

Sweetgreen Trading Down 10.5 %

Shares of NYSE SG opened at $25.96 on Wednesday. Sweetgreen has a twelve month low of $10.93 and a twelve month high of $45.12. The firm has a 50-day moving average of $33.32 and a two-hundred day moving average of $34.51. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -33.28 and a beta of 2.37.

Insider Activity at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 14,745 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 9,507 shares of Sweetgreen stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $323,713.35. Following the transaction, the chief financial officer now directly owns 360,177 shares in the company, valued at approximately $12,264,026.85. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,607 shares of company stock worth $23,177,393 over the last quarter. Company insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently made changes to their positions in the business. EFG Asset Management North America Corp. increased its stake in Sweetgreen by 59.6% in the 4th quarter. EFG Asset Management North America Corp. now owns 73,405 shares of the company’s stock worth $2,352,000 after purchasing an additional 27,400 shares during the period. Segall Bryant & Hamill LLC grew its stake in shares of Sweetgreen by 29.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 226,871 shares of the company’s stock worth $7,273,000 after purchasing an additional 52,226 shares during the last quarter. Vanguard Group Inc. increased its holdings in Sweetgreen by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after purchasing an additional 351,240 shares during the period. LPL Financial LLC raised its position in Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company’s stock valued at $1,911,000 after purchasing an additional 47,676 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Sweetgreen in the 4th quarter worth approximately $686,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.